Community Apartments Corporation of Beaufort County

Analysis

Community Apartments Corporation of Beaufort County is a registered charity in United States, based in Raleigh, NC. It received its IRS tax-exemption ruling in August 2003, 23 years ago. Its declared purposes cover housing and shelter, which this site groups under housing and shelter. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending September 2023, Community Apartments Corporation of Beaufort County reported income of $77k and spending of $85k, spending 111% of what it took in. Across the 5 years on record, from September 2019 to September 2023, income fell from $78k to $77k (-1.1%), an average of -0.3% a year. Over the whole period it spent 110% of the income it received.

Among 15,864 United States charities whose main cause is housing and shelter and that reported income, Community Apartments Corporation of Beaufort County sits at the 17th percentile: it is larger than about 17% of them. Against every charity in United States with reported income it ranks in the 30th percentile, and in the 28th percentile within NC. Charities of a similar size with the same main cause include Abilities at St Andrews Cove ($77k), Branch of Hope ($77k) and Aim Community Living Inc ($77k).

On its Form 990 for the period ending September 2023, revenue came from contributions and grants 57% and program service revenue 43% of the total. At year end it held assets of $716k against liabilities of $963k, net assets of -$247k.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.